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CASI Pharmaceuticals enters into a framework agreement to build a state-of-the-art manufacturing site in Wuxi Huishan Life Science and Technology Industrial Park on Nov 17. [Photo/hsxw.huishan.gov.cn] |
CASI Pharmaceuticals, an American biopharmaceutical company, entered into a framework agreement to build a state-of-the-art manufacturing site in Wuxi Huishan Life Science and Technology Park, a leading science and technology innovation center in China, on Nov 17.
CASI is dedicated to the development and delivery of high quality, cost-effective pharmaceutical products and innovative therapeutics to patients in China and further afield.
The facility will be designed and constructed based on global cGMP requirements and is expected to have the capacity for large scale production. The facility will be a key asset supporting CASI's growth and commercialization plans, with further agreements to be finalized and site construction to begin in mid-2019.
Huang Qin, acting mayor of Wuxi, said that the government will give full support to the facility and try to refine the policies on innovative medicine.
He Wuwei, executive chairman of CASI, said that "As a Wuxi native, I'm excited to about moving forward with building our own manufacturing site as part of our supply chain here."
"The facility is a core component of our long-term growth strategy as it will give us significantly greater capacity in order to meet the company's commercial needs, and will allow us greater control over quality, cost of goods and production schedules." He added.
The registered capital of the new facility is $150 million and it is supposed to attract other leading generic drug makers to develop in Wuxi, aiming to deliver high quality, cost-effective pharmaceutical products and innovative therapeutics to Chinese patients.
